Panhandle Rural Electric Membership Association
- Assets
- $42.4m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 31
- Location
- Alliance, NE
- Founding
- 03/1957
- Data as of
- 12/2023
- EIN
- 47-0348046
Organization Overview
Panhandle Rural Electric Membership Association is located in Alliance, NE. The organization was established in 1957. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Panhandle Rural Electric Membership Association employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panhandle Rural Electric Membership Association is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Panhandle Rural Electric Membership Association generated $15.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $14.5m during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PREMA BELIEVES THAT ITS MEMBERS ARE ENTITLED TO SAFE, RELIABLE, EFFICIENT AND REASONABLY PRICED ELECTRICITY AND SERVICES THAT WILL IMPROVE THEIR QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY TO RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zac Bryant General Manager | Officer | 40 | $148,421 |
Dale Knapp Staking Engineer | 40 | $107,339 | |
Boone Manion Ops Manager | 40 | $101,932 | |
Bryan Monahan Sec-Treasurer | OfficerTrustee | 1 | $12,244 |
Rd Sutphen President | OfficerTrustee | 1 | $10,764 |
Dale Berndt Director | Trustee | 1 | $8,060 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $14,948,178 |
| Investment income | $156,840 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,144,678 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $574,237 |
| Compensation of current officers, directors, key employees. | $210,574 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,361,064 |
| Pension plan accruals and contributions | $274,406 |
| Other employee benefits | $438,814 |
| Payroll taxes | $129,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,411 |
| Fees for services: Accounting | $13,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $31,769 |
| Office expenses | $63,630 |
| Information technology | $184,201 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $245,521 |
| Interest | $801,676 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,125,500 |
| Insurance | $161,825 |
| All other expenses | -$2,057,591 |
| Total functional expenses | $14,535,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $857,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $940,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,594,805 |
| Prepaid expenses and deferred charges | $211,489 |
| Net Land, buildings, and equipment | $29,673,077 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,074,842 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,352,486 |
| Accounts payable and accrued expenses | $1,382,595 |
| Grants payable | $0 |
| Deferred revenue | $12,852 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,372,025 |
| Unsecured mortgages and notes payable | $2,300,000 |
| Other liabilities | $657,334 |
| Total liabilities | $22,724,806 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,641,041 |
| Paid-in or capital surplus, or land, building, or equipment fund | $17,986,639 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $42,352,486 |